Number of traders net-short has increased by 7.58% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
NZD/USD: Retail trader data shows 49.88% of traders are net-long with the ratio of traders short to long at 1.00 to 1. In fact, traders have remained net-short since Jun 10 when NZD/USD traded near 0.64, price has moved 0.32% higher since then. The number of traders net-long is 14.52% lower than yesterday and 12.40% lower from last week, while the number of traders net-short is 1.39% lower than yesterday and 7.58% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests NZD/USD prices may continue to rise.
Our data shows traders are now net-short NZD/USD for the first time since Jun 10, 2022 when NZD/USD traded near 0.64. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger NZD/USD-bullish contrarian trading bias.